Singapore government will buy Grand Wailea, other resort properties

The Government of Singapore Investment Corp. will buy the Grand Wailea on Maui and three other luxury U.S. resorts owned by a group led by New York-based Paulson & Co. for $1.5 billion after no other bidders stepped up to bid on the bankrupt resort properties.
An auction that had been scheduled for Thursday was canceled a day earlier after no other competing bids were received by the Monday deadline, according to a filing with the U.S. Bankruptcy Court for the Southern District of New York in Manhattan………………………………………..Full Article: Source